That GD GDP

By Kleinheider Posted on July 31, 2008 at 9:38 am

John McCain’s Senior Policy Advisor Doug Holtz-Eakin comments on the incredibly shrinking U.S. economy:’

“Today’s GDP data are a stark reminder of the importance of focusing on the conditions facing American workers and the policies that will get our economy back on track. While growth continues to be disappointing, trade provides one of the few bright spots in an otherwise gloomy economic picture, raising questions about Barack Obama’s policy of economic isolationism.

“The data announced today show that exports grew 9.2%. Absent strong growth in trade, the economy would have turned negative in the second quarter, contracting by 0.52% instead of growing 1.9%. Senator Obama will throw up trade barriers that would seriously hurt American workers, businesses and our economy. When 95% of the world’s consumers live outside our borders, it is crucial that we do everything we can to expand markets for American goods and level the playing field for American businesses and workers.

“There is much that needs to be done to get the economy on track. John McCain’s Jobs for America Plan will encourage new sources of energy, provide relief for skyrocketing gas prices, help families facing foreclosure stay in their homes, put a stop to Washington’s out-of-control spending, keep taxes low to create good jobs here in America, and give American workers renewed confidence in their economic future.”

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